Coil tubing rigs are commonly used in oil and gas applications, in drilling, completion and workover activities. Furthermore, coil tubing rigs are commonly used in the drilling of mining borehole, methane bed gas boreholes, water wells, and other earth boreholes.
With particular reference to the use of coil tubing rigs in operations involving oil and gas wells, whether the activities are drilling, completion or workover, rig cost per day becomes an important factor. Coil tubing rigs have gained great popularity, particularly in the drilling of the oil and gas wells because they are much faster on average than a conventional rig employing jointed pipe. Due to the high cost of operations involving drilling, completing and re-entry work in oil and gas wells, there is increased emphasis in reducing the number of days a rig is on a site to perform a given operation, e.g, drilling. Further, where multiple wells are being drilled in a relatively localized geographical area, fast transport of the coil tubing rig from one site to another site becomes important to contain costs.